Sophia Sommer | The Sommer Group

Sophia Sommer

Comparison

Side-by-side payments and cash to close

Lowest monthly: Assumable Loan

Total monthly

Payment stack including taxes, insurance, and HOA

Cash to close

Down payment / equity bring-to

Detail	Assumable Loan Assumable · FHA	Assumable Loan + Second Assumable · FHA	Current Market Conventional New · Conventional
Loan amount	$103,559	$103,559	$225,000
Remaining term (yrs)	11.1	11.1	30.0
Secondary amount	$0	$121,441	$0
Funding fee	$0	$0	$0
Note rate	6.200%	6.200%	7.400%
Blended rate	7.050%	7.563%	7.640%
1st payment	$1,067.38	$1,067.38	$1,557.85
2nd payment	$0.00	$809.61	$0.00
Taxes / mo	$94.50	$94.50	$94.50
Insurance / mo	$150.00	$150.00	$150.00
MI / mo	$123.44	$123.44	$45.00
HOA / mo	$0.00	$0.00	$0.00
Total monthly	$1,435.33	$2,244.93	$1,847.35
Cash to close	$146,441	$25,000	$25,000